California Public Employees Retirement System cut its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 10.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,154 shares of the semiconductor company’s stock after selling 5,857 shares during the period. California Public Employees Retirement System’s holdings in IPG Photonics were worth $7,461,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IPGP. Legal & General Group Plc increased its stake in IPG Photonics by 21.1% in the third quarter. Legal & General Group Plc now owns 295,107 shares of the semiconductor company’s stock worth $46,057,000 after purchasing an additional 51,502 shares during the period. Virtu Financial LLC purchased a new stake in IPG Photonics in the fourth quarter worth $248,000. Nisa Investment Advisors LLC increased its stake in IPG Photonics by 901.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,005 shares of the semiconductor company’s stock worth $567,000 after purchasing an additional 4,505 shares during the period. IFM Investors Pty Ltd increased its stake in IPG Photonics by 16.7% in the fourth quarter. IFM Investors Pty Ltd now owns 2,260 shares of the semiconductor company’s stock worth $256,000 after purchasing an additional 324 shares during the period. Finally, Fisher Asset Management LLC increased its stake in IPG Photonics by 68.6% in the fourth quarter. Fisher Asset Management LLC now owns 126,382 shares of the semiconductor company’s stock worth $14,318,000 after purchasing an additional 51,411 shares during the period. Hedge funds and other institutional investors own 66.43% of the company’s stock.

In related news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $162.59, for a total transaction of $1,625,900.00. Following the sale, the insider now owns 7,555,999 shares of the company’s stock, valued at $1,228,529,877.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Trevor Ness sold 5,025 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $170.22, for a total value of $855,355.50. Following the sale, the senior vice president now directly owns 25,657 shares in the company, valued at approximately $4,367,334.54. The disclosure for this sale can be found here. Insiders have sold a total of 15,825 shares of company stock worth $2,618,936 in the last three months. Corporate insiders own 33.90% of the company’s stock.

IPGP has been the topic of a number of recent analyst reports. Northcoast Research reiterated a “hold” rating on shares of IPG Photonics in a research note on Tuesday, January 29th. BidaskClub lowered IPG Photonics from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. ValuEngine upgraded IPG Photonics from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. DA Davidson reduced their target price on IPG Photonics to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, February 13th. Finally, Zacks Investment Research downgraded IPG Photonics from a “hold” rating to a “strong sell” rating in a research report on Friday, February 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $185.90.

IPGP opened at $131.01 on Monday. IPG Photonics Co. has a 12-month low of $104.64 and a 12-month high of $261.77. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.55 and a current ratio of 8.54. The firm has a market cap of $6.96 billion, a PE ratio of 17.75, a PEG ratio of 2.94 and a beta of 1.87.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). IPG Photonics had a return on equity of 16.09% and a net margin of 24.94%. The firm had revenue of $315.00 million for the quarter, compared to the consensus estimate of $308.75 million. During the same period in the previous year, the company posted $1.93 EPS. IPG Photonics’s quarterly revenue was down 12.5% compared to the same quarter last year. On average, equities analysts expect that IPG Photonics Co. will post 5.78 EPS for the current year.

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IPG Photonics Company Profile

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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